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Creditors are prohibited from contacting you after your petition is filed. While bankruptcy law forces you to sell some assets to repay unsecuredcreditors, the majority of Americans keep all of their property because of bankruptcy limits on the categories of assets that may be used to settle debts.
With secured debts, your creditors have the right to seize the collateral property if you default on payments. In contrast, unsecureddebt from unsecuredcreditors doesn’t have collateral attached. Credit card balances, personal loans, medical bills, and utility bills are generally unsecureddebt.
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